9.10am: "fundamental change to access to information. Today billions of people can access more information than entire governments just a generation ago. Access increasing every day, eroding power imbalances.... brilliant example during PM's trip to India"...

Google Hack day in Bangalore to see what people could built - they created new tool to make Indian police more accountable: used dial-and-drop missed call so people can send it to a number to report bad experience with police, plugged into heatmap to show where people aren't happy with police, which could be used by civil society or government to follow up.

9.12am: "think it says a lot about Tony Blair that the thing he says he regretted most was the FOI Act. Maybe he should have regretted more..."

"Until this time last year British public couldn't access data on spending... procurement tender documents.. salaries of senior government oficials... crime on a street-by-street basis... now 6,000 in total..

"In the next 12 months going to unlock some of the more valuable data currently locked up in government servers.. a year from now websites and services will help people find 'which is the right GP for your family', how well are hospital departments faring, was the person who broke into my car ever apprehended...

"become the world leader in open data... benefits are enormous, not just in identifying waste..."

9.16am: "financial data market value perhaps $20bn, health data could be $300bn.. with smart meters embedded the amount of data is increasing rapidly... I want the UK to be at the forefront of this... our growth policies will focus on open data in the forthcoming months...

"Imperial and UCL in unrecedented partnership to focus on how to best use the massive amount of data being generated in the world's biggest cities... transport, energy, health...

"As part of the Tech City initiative the centre will be based in Shoreditch."

Has changed policymaking, he says... changing the "asymmetries of wisdom". "Think it works best when we open ourselves up to the wisdom of the crowd."

9.19am: Ah: Glen Shoesmith last November pointed out problem to PM last year about finding tendering documents to sell idea to government. "Lat month we launched open procurement competition..."

[No mention though of whether Shoesmith got his problem solved. - CA]

"We're calling it the Red Tape Challenge: sector by sector, almost every piece of regulation on the books to feed in their coments, what should be scrapped or done easily, every single suggestion will be looked at... we are forcing government to look at what it does..."

Here's the top-line news: "We have recruited Beth Novek who used to work at the White House to do this... she literally wrote the book on this.. will work alongside Martha Lane Fox on this [with Tom Steinberg, Tim Kelsely, Martha Lane Fox]."

[That's a team which can get something done, for sure. - CA]

"All our public service reforms will be digital by default and ministers will have to justify why anything can't be digital by default and has to be done through conventional channels."

"Treasury has moved to online-only corporation tax returns... will move to the same for all the major business taxes..."

Namecheck too for alpha.gov.uk, which if you havent seen is worth a look.

9.24am: "This creates challenges as well as opportunities..." Namecheck for the PSN hack ... "high-profile of the need for robust online

"20,000 emails sent every month to government with malicious intent...We have seen hostile intelligence agencies make prepplanned attempts to break into the Treasury's systems... makes Treasury most targeted in Whitehall... G20 email sent and then resent where attachment had been swapped for malicious code... "[Interesting - though wasn't that the one admitted recently by William Hague? - CA]

9.27am: "9m adults in Britain haven't been online.. Hutchison doing maths... BlackBerry doing apps for schools.. YouGov sponsoring summer startup program to encourage students to set up internet companies."

"Internet is forcing us to rethink government from the bottom up."

"Reshape government... and build a brighter tomorrow."

(Speech ends.)

9.29am: Comment: not very much that's new there - though making government services digital by default is interesting. It's self-interested: difference in cost between applying on paper v online is £10 v £2.

Q: "How do you rate your performance?"

Osborne: "The nice thing is that everybody else rates my performance...lots of reform..health reform which we're in the process of improving.. We've shown that we're a strong government taking difficult decisions."

And he's off to a meeting of European finance ministers. "Not everyone is going to be there...." Osborne adds. Laughter.

9.33am: Q: "have you been as good as you could have been at getting the message out about how good we are at attracting inward investment?"

Osborne: "think lots of focus has been on the deficit.. but on business we are taking aggressive approach to making UK more attractive place for business... corporation tax... entrepreneurial tax breaks.. this whole agenda, there's a whole team in the heart of Downing St, the people involved in this are in the next-door office to the Prime Minister. We're trying to be the first major economy that embraces the potential of the internet and the information opportunities that exist."

9.35am: Osborne: "NHS employs 1,4m people directly .... making things less hierarchical is difficult but technology offers opportunity. And truth is that although there is debate about pace of deficit reduction in the UK, truth is tha everyone has to understand there is going to be reduction in deficit over the next few years and public services aren't going to have the resources they once did which is going to force them to think about how you provide education or health care more efficiently. There is a great focus and that is forcing people to think about it."

And he's off to catch that train. Let's hope he's not going to have to stay in a hotel with a shower.